Today in European Tech: Bunq bags €193 million round, Younited Credit nabs $170 million, Swiss Post buys Tresorit, and much more

Today in European Tech: Bunq bags €193 million round, Younited Credit nabs $170 million, Swiss Post buys Tresorit, and much more


Here's what happened today in European Tech.


- Amsterdam’s bunq has closed a record-breaking European fintech Series A round at €193 million. This now gives the neobank a valuation of €1.6 billion. Not too bad for a company that until this announcement had remained bootstrapped by its founder Ali Niknam for close to a decade.

- French startup Younited Credit has raised a $170 million funding round. Goldman Sachs is leading the round with existing investors Eurazeo, Bpifrance and AG2R La Mondiale also participating. The company offers several credit products to European consumers.

- Berlin-based photovoltaic systems provider Enpal has closed a €100 million funding round with the goal of becoming the energy supplier for the 21st century.

- Swiss Post, the former state-owned mail delivery firm which became a private limited company in 2013, diversifying into logistics, finance, transport and more while retaining its role as Switzerland’s national postal service, has acquired a majority stake in Swiss-Hungarian startup Tresorit, a European pioneer in end-to-end-encrypted cloud services.

- We also tracked a large number of (other) European tech funding rounds and M&A transactions, all of which we are putting in a handy list for you on Friday afternoon in our weekly roundup newsletter (note: the full list is for paying customers only). Also check out our European tech news section for ongoing coverage.

Worth Reading/Knowing

- Washington told the EU not to tax its tech giants. So Brussels is making plans to tax everyone instead. The European Commission is eyeing a 0.3 percent tax on the goods and services sold online by companies operating in the EU with an annual turnover of €50 million or more, officials briefed on the plans told POLITICO.

- Stellantis, the automaker born out of a merger between Fiat Chrysler Automobiles and French automaker Groupe PSA, will invest €30 billion in electric vehicles and new software over the next four years as part of a major push to transition away from internal combustion engines.

- Wise's record-breaking direct listing has come as a relief to other tech firms aiming to go public in the coming months, the bankers managing those deals and to post-Brexit London.

- Northzone backed Na-Kd, one of Sweden’s fastest growing online retailers, is "getting ready to raise funds on the stock market by convincing ethically-conscious investors that fast fashion can be sustainable”.

- Fintech companies based in London raised more funding from VC investors in the first six months of 2021 than in any other year, demonstrating the British capital's resilience as a hub for digital financial services post-Brexit.

- Investors find European unicorns reluctant to join the SPAC boom.

- Grocery delivery scale-up Getir hopes to double its workforce of 1,500 and operate in up to 15 cities by the end of 2021.

- Kat Borlongan has stepped down as director of the 'French Tech Mission'.

- US-based digital consumer goods company that acquires private label Amazon FBA businesses and direct-to-consumer e-commerce brands, Thrasio has announced the appointment of Amazon vet Georg Hesse as Vice-President UK, DE.

- Swedish video streaming tech firm Bambuser announced their participation in La Maison des Startups, an accelerator program created by LVMH.

- Sweden’s Voi is launching the world’s first large-scale pilot of computer vision on e-scooters in the UK city of Northampton. The AI technology can detect when an e-scooter leaves the road and rides on a pavement, as well as if the vehicle is parked correctly.

- The University of Cambridge has produced more graduate founders than any other UK university, new research reveals.

Today's Top Tweets

Tell us what you think about this daily roundup and how we can improve it!

And follow us on Twitter of course.

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.